ISLAMABAD — The federal cabinet, chaired by Prime Minister Shehbaz Sharif, has approved a 15% increase in pensions provided by the Employees’ Old-Age Benefits Institution (EOBI), effective from January 1, 2025.
The increase will be financed through EOBI’s own resources, following a recommendation from the Ministry of Overseas Pakistanis and Human Resource Development. The move aims to support pensioners amid rising inflation.
The prime minister also ordered the formation of a cabinet committee to introduce institutional reforms within EOBI and explore ways to extend pension benefits to informal sector workers, including domestic helpers and agricultural laborers.
In addition, the cabinet approved a five-year extension of the exemption on the import of critical life-saving drugs, including treatments for cancer and cardiac diseases. These drugs will only be made available to hospitals and authorised healthcare institutions, with a strict ban on their sale in open markets.
The government also approved initial legal proceedings related to the Sea Carriage Shipping Documents Bill 2025 and endorsed earlier decisions of the Cabinet Committee on Legislative Cases.
During the meeting, PM Shehbaz praised provincial and federal authorities, including those in AJK and Gilgit-Baltistan, for maintaining peace during Muharram. He also expressed concern over recent monsoon-related tragedies, especially in Swat, and stressed improved disaster preparedness.
On the economic front, the prime minister expressed satisfaction over positive macroeconomic trends and development spending exceeding Rs1 trillion under the PSDP. He reiterated his commitment to performance-based governance and service delivery, with ministry evaluations scheduled every two months.
